The vehicles of multiple international automotive brands will soon be witnessed on the roads in Pakistan as Lucky Motor Corporation (LMC) Ltd has signed a license and technical assistance agreement with the Stellantis N.V Group, the fourth largest global vehicle manufacturer.
According to details, LMC’s agreement with Stellantis Group gives local company rights to assemble, manufacture, market, distribute and sell the vehicles built by companies under the conglomerate.
They will include passenger cars and light commercial vehicles. LMC is also the distributor of Kia’s car in Pakistan.
Conglomerate
Stellantis Group, which is set to arrive in Pakistan, is the fourth largest global vehicle manufacturer in the world followed by Volkswagen, Toyota, General Motors, and Renault-Nissan-Mitsubishi respectively.
It was formed as a result of a merger of Italian-American company Fiat Chrysler Automobiles and French company Groupe PSA on a 50-50 cross-border merger agreement in January 2021.
The conglomerate has a wide portfolio of automotive brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram Trucks and Vauxhall.
Read Also
E-Banking in Pakistan Skyrockets With 22% Rise
LMC Chief Executive Officer (CEO) Asif Rizvi said they would start producing automotive under Auto Development Policy (ADP) 2016-2021.
The vehicles would be manufactured at the Bin Qasim Industrial Park production facility located in Karachi.
This is the same production site where LMC manufactures Kia’s vehicles in Pakistan.